Tax Statutes Amendment Act
Amended
- Alberta Corporate Tax Act, RSA 2000 cA-15
- Alberta Personal Income Tax Act, RSA 2000 cA-30
- Fuel Tax Act, SA 2006 cF-28.1
- Tourism Levy Act, RSA 2000 cT-5.5
Summary
The Tax Statutes Amendment Act continued the provincial fuel tax pause under the Fuel Tax Act until December 31, 2023.
The Act also amends the Tourism Levy Act by repealing previous requirement for online brokers to collect and remit the tourism levy, with the changes repealed retroactively. Temporary accommodation providers have to collect the tourism levy on behalf of the minister and remit same. The Act also updates information-sharing requirements.
The Alberta Personal Income Tax Act is amended by among other things:
- updating the calculation for the recovery tax on qualified disability trusts;
- changing the eligibility requirements for the provincial disability tax credit;
- amending the Alberta calculation for tax on split income;
- allowing eligible businesses to immediately deduct up to $1.5 million of the cost of eligible investments Alberta Corporate Tax Act;
- correcting the formula for calculating the Innovation Employment Grant benefit for corporations that are associated with other corporations.
The Act makes several other amendments and practitioners are advised to review it to determine how it affects their practices
In Force: On various dates